That fact that your cedi falls doesn't mean is good or bad. What determines whether is good or bad is your ability or inability to take advantage of it. If Ghana were to increase the volume of exports it will be good for if t ... read full comment
That fact that your cedi falls doesn't mean is good or bad. What determines whether is good or bad is your ability or inability to take advantage of it. If Ghana were to increase the volume of exports it will be good for if the cedi is low, it will increase productivity and create jobs. If we maintain the quo or increase importation then it will be bad. It all depend on the economic policy and direction of the Government of the day. The cedi was performing worse under Kufour than it is today, so by your own logic, your own Kufour more than destroyed Ghana
Gye Nyame 9 years ago
@Whatever: Clueless just like your paymasters. No wonder the country is in a nose dive. Baseless comment.
@Whatever: Clueless just like your paymasters. No wonder the country is in a nose dive. Baseless comment.
OBAA YAA 9 years ago
Headline news like this “Ghana’s cedi is world’s weakest currency” amount to crime of betrayal
Yes, a crime of betrayal because betrayal has a cruel sting. When you are betrayed, it is like your trust ring has been ... read full comment
Headline news like this “Ghana’s cedi is world’s weakest currency” amount to crime of betrayal
Yes, a crime of betrayal because betrayal has a cruel sting. When you are betrayed, it is like your trust ring has been pulled right out from you. Any form of betrayal is very hurtful. Especially, when act of betrayal is administer by the people put in authority. By the incompetency these “school boys and girls” have let down our beloved country. They have destroy KU4’s a sound economic process. Therefore, charges of destroying the pace of economy must be leveled against them ……
NEMESIS RADAR, UK!! 9 years ago
Ghana=1 medal Naija=30 medals and more to follow.
Ghana=1 medal Naija=30 medals and more to follow.
Twum Barimah 9 years ago
What kind of wicked and cruel topic?
Some of you are full of absurd and preposterous malice. Do you people want to say Ghana's Cedi is worst off than Zibabweans' currency, Sierra Leone's Leones, Guinea's Celi, just to mentio ... read full comment
What kind of wicked and cruel topic?
Some of you are full of absurd and preposterous malice. Do you people want to say Ghana's Cedi is worst off than Zibabweans' currency, Sierra Leone's Leones, Guinea's Celi, just to mention a few?
You should stop writing all kinds of nonsense, if you don't have anything to write.
Stop destroying your own country's image. Not all Ghanaians are illiterate and dump like you. Some of us are tired of your nonsensical and sensational writings! Pure Nonsense and hogwash!
Moses 9 years ago
Your earlier point is more valid than the later lie that the cedi is doing better now than it did under Kufour.If you want to be taken seriously stick to facts and stay away from the gutters? You are absolutely right to point ... read full comment
Your earlier point is more valid than the later lie that the cedi is doing better now than it did under Kufour.If you want to be taken seriously stick to facts and stay away from the gutters? You are absolutely right to point out a beneficial factor in a devalued currency, unfortunately we do not have the manufacturing output to take advantage of this.If we already had an industrialized economy then we could have flooded the ports of our trading partners but as it holds now Ghana is an importing Country.We export I tonne of Cocoa and imports 5 tonnes of cocoa finished products.Things have to change and it will start with people like us coming together to demand change from the Government.
okofo 9 years ago
We're NOT under Kufour's gov't my friend. Stop comparing in this manner: Ghanaians moved on for the better from where Kufour left, so if NDC cannot move the country further from where Kufour left it, then the gov't is SIMPLY ... read full comment
We're NOT under Kufour's gov't my friend. Stop comparing in this manner: Ghanaians moved on for the better from where Kufour left, so if NDC cannot move the country further from where Kufour left it, then the gov't is SIMPLY not good. Ghanaians are not reversing to compare the present to yesterday's economy. Ghana doesn't have a responsible gov't at the moment, and this is FACT any truthful person will affirm.
SARPONG 9 years ago
If we maintain what? Quo? You can't even speak or write English and you don't seem to understand Economics either. IT'S STATUS QUO, meaning doing the same thing over and over.
The cedi depreciation is not good for Ghana a ... read full comment
If we maintain what? Quo? You can't even speak or write English and you don't seem to understand Economics either. IT'S STATUS QUO, meaning doing the same thing over and over.
The cedi depreciation is not good for Ghana as an importing country and exporter of raw materials and not manufactured goods. It takes an average of five years for cocoa to bear fruits and limit to gold and oil.
Go and study price and commodity elasticities before you a fool of yourself on a subject you don't have any clue about.
If the depreciation of the cedi is good, why is your ndc administration trying to stop it? Do you think you are talking to ndc fool soldiers?
Whatever 9 years ago
When one is using a word within clear INFORMAL context, you don't need to pronounce the word in full so long as the person reading or listening will understand its coded meaning. That is what INFORMAL language entails. Commen ... read full comment
When one is using a word within clear INFORMAL context, you don't need to pronounce the word in full so long as the person reading or listening will understand its coded meaning. That is what INFORMAL language entails. Comments are to be informal and I'm right to term status quo, a 'quo' so long as you or any of your clueless NPP mummies or should I say Zombies, understands it that way and which it appears you did. Comments are not like the often frivolous articles you write for it to be couched in formal language all the time.
Price and commodity elasticity? This elementary economics is what you throw before me? How changes in supply or demand of a commodity causes changes in price? Are you for real? Do you know the kinds of things I have studied and passed with distinction? Your level is too low for
GAbaa 9 years ago
In economics we have something call "in the long run" when all resources are variable, that's when you can take advantage in currency fluctuations but not in the shot run when all your circumstances are fixed.
In economics we have something call "in the long run" when all resources are variable, that's when you can take advantage in currency fluctuations but not in the shot run when all your circumstances are fixed.
Baba 9 years ago
Just the few comments I read proved that Ghana has too many economists with divergent views and interpretations of economic theories. That is probably the reason we can't get the ecominy, sorry economy right.
Just the few comments I read proved that Ghana has too many economists with divergent views and interpretations of economic theories. That is probably the reason we can't get the ecominy, sorry economy right.
NII OTU 9 years ago
Blame our opposition parties for using the Cedi depreciation as their campaign messages.
WHAT THEY SHOULD THAT THE CEDI MAY STABILIZED AND THEIR CAMPAIGN MESSAGES WILL BE DEAD.
Blame our opposition parties for using the Cedi depreciation as their campaign messages.
WHAT THEY SHOULD THAT THE CEDI MAY STABILIZED AND THEIR CAMPAIGN MESSAGES WILL BE DEAD.
Kwasi Asante , Providence, R.I. 9 years ago
People like you are those who voted for NPP when you were drunk or bribed. The Cedi was a stabilized currency at 1.56 cedis to a dollar under Kuffuor. In fact the rate stood firm for the last two years of Kuffuor regime.
Re- ... read full comment
People like you are those who voted for NPP when you were drunk or bribed. The Cedi was a stabilized currency at 1.56 cedis to a dollar under Kuffuor. In fact the rate stood firm for the last two years of Kuffuor regime.
Re-examine your head and set your priorities. Whether you love NPP or Ghana.
Mensah 9 years ago
If the cedi stabilized under Kufour, why should that be bad for people not to vote for NPP?
If the cedi stabilized under Kufour, why should that be bad for people not to vote for NPP?
SARPONG 9 years ago
The reasons for the cedi depreciation is numerous and that is why it is going to be difficult to get this problem under control.
First, the government has increased the volume of the cedi circulation by printing more than ... read full comment
The reasons for the cedi depreciation is numerous and that is why it is going to be difficult to get this problem under control.
First, the government has increased the volume of the cedi circulation by printing more than one billion cedis to meet workers agitations for pay increase and paying for services.
Second, the Banking laws that allowed the Nigerians and other foreigners to open Banks in Ghana. These BANKS ARE SIPHONING THE SCARCE foreign currencies in the system.
Third, the Chinese Galamsey Operators and Traders are sending large volumes of dollars each day to China.
Fourth,The imbalance of the import and export trade. This problem might correct itself in the short term as Traders are now losing money importing goods due to the high cedi exchange rate as compared to foreign currencies. Many Traders have already suspended importing goods.
SARPONG 9 years ago
CORRECTION
The reasons for the cedi depreciation is numerous and that are why it is going to be difficult to get this problem under control.
First, the government has increased the volume of the cedi circulation by pr ... read full comment
CORRECTION
The reasons for the cedi depreciation is numerous and that are why it is going to be difficult to get this problem under control.
First, the government has increased the volume of the cedi circulation by printing more than one billion cedis to meet workers agitations for pay increase and paying for services.
Second, the Banking laws that allowed the Nigerians and other foreigners to open Banks in Ghana. These BANKS ARE SIPHONING THE SCARCE foreign currencies in the system.
Third, the Chinese Galamsey Operators and Traders are sending large volumes of dollars each day to China.
Fourth,The imbalance of the import and export trade. This problem might correct itself in the short term as Traders are now losing money importing goods due to the high cedi exchange rate as compared to foreign currencies. Many Traders have already suspended importing goods.
QUEEN 9 years ago
FOR HEAVEN'S SAKE, FOR CHRIST SAKE MAHAMA NEEDS TO LEAVE THE PRESIDENCY. WHY SHOULD THIS INCOMPETENT, PATHETIC, HALUCINATING, CLUELESS MAN WHO APPOINTED IGNORANT, UNKNOWLEDGEABLE, ARROGANT SCHOOL BABIES WITH SHARP TEETH MAKE ... read full comment
FOR HEAVEN'S SAKE, FOR CHRIST SAKE MAHAMA NEEDS TO LEAVE THE PRESIDENCY. WHY SHOULD THIS INCOMPETENT, PATHETIC, HALUCINATING, CLUELESS MAN WHO APPOINTED IGNORANT, UNKNOWLEDGEABLE, ARROGANT SCHOOL BABIES WITH SHARP TEETH MAKE GHANAIANS SUFFER LIKE THIS?MAHAMA, DO THE HONORABLE THING AND RESIGN ASAP.
Whatever 9 years ago
How was the cedi performing under Kufour? it was so bad that re-denomination had to be done to hide some of the zeroes
How was the cedi performing under Kufour? it was so bad that re-denomination had to be done to hide some of the zeroes
Nii Akwei 9 years ago
Don't go there.
Don't go there.
SARPONG 9 years ago
Your comment shows how illiterate you are. No sense trying to educate a dog how to accept soap as food, it will never happen.
Your comment shows how illiterate you are. No sense trying to educate a dog how to accept soap as food, it will never happen.
Tibaa 9 years ago
Bravo!!!
Bravo!!!
Coconuthead 9 years ago
I AM SORRY TO SAY GHANA'S CURRENCY IS NOT THE WEAKEST IN THE WORLD? On what basis was such a ridiculous and presumptuous conclusion reach?
I AM SORRY TO SAY GHANA'S CURRENCY IS NOT THE WEAKEST IN THE WORLD? On what basis was such a ridiculous and presumptuous conclusion reach?
Botha 9 years ago
Reached not reach? Based on the percentage of depreciation?
Reached not reach? Based on the percentage of depreciation?
Gye Nyame 9 years ago
It is pathetic the cluelessness shown by this crop of leaders headed by Mahama. You have clueless leaders the country suffers. We are heading for the cliff and no one cares or has the guts to do what is right. What a shame!
It is pathetic the cluelessness shown by this crop of leaders headed by Mahama. You have clueless leaders the country suffers. We are heading for the cliff and no one cares or has the guts to do what is right. What a shame!
HolyGhost 9 years ago
Ghana's currency is the weakest, Mahama is clueless,is all in the eyes of npp suppoters, the party of sabotuers trying to bring the country down,all just because they failures
Ghana's currency is the weakest, Mahama is clueless,is all in the eyes of npp suppoters, the party of sabotuers trying to bring the country down,all just because they failures
Gye Nyame 9 years ago
Making the wrong assumption that I support NPP, wait for the next administration to come and see if I let them off the hook. I support Ghana and that is it. Just saying the truth, that is all.
Making the wrong assumption that I support NPP, wait for the next administration to come and see if I let them off the hook. I support Ghana and that is it. Just saying the truth, that is all.
George, Kumasi 9 years ago
Pls leave President Mahama alone and go and look for job.
Pls leave President Mahama alone and go and look for job.
Theophilus 9 years ago
Where is that stupid akpeteshie trokosi Corney?
Where is that stupid akpeteshie trokosi Corney?
MR MAN 9 years ago
Who will buy an Eurobond from a bankcrupt country with a worthless currency?
Who will buy an Eurobond from a bankcrupt country with a worthless currency?
Frank Agyena-Karikari 9 years ago
Is that why Mahama wants to run to China with our begging cup for shylock loans? The Chinese are worse off when it comes to being fist-handed with with their money and have higher interest rates and conditions. Terkper admitt ... read full comment
Is that why Mahama wants to run to China with our begging cup for shylock loans? The Chinese are worse off when it comes to being fist-handed with with their money and have higher interest rates and conditions. Terkper admitted to it when he said the Chinese are asking for too much.
When will Mahama LISTEN TO OBIARA and put experienced people at right places instead of the school boys?
Baba 9 years ago
Bank of Ghana should keep an eye on the operations of those mushroom banks that sprung up when NPP came to power. They are syphoning all kinds of currencies they can lay their hands on in order to put blame on NDC.
Bank of Ghana should keep an eye on the operations of those mushroom banks that sprung up when NPP came to power. They are syphoning all kinds of currencies they can lay their hands on in order to put blame on NDC.
Germany 9 years ago
See a Fool, will always be a Fool, he can Never learn Or change cause is inside Ur useless Patents dna and u were Born with it. U assholes NDC will Even vote for a DOG Or CAT be President. I know u nasty NDC are people are NO ... read full comment
See a Fool, will always be a Fool, he can Never learn Or change cause is inside Ur useless Patents dna and u were Born with it. U assholes NDC will Even vote for a DOG Or CAT be President. I know u nasty NDC are people are NOT Part of humans. Mahama Or what ever , u are too Greedy and fucken dog eater Ur days are numbered .
Coconuthead 9 years ago
Wow, you really have a problem, don't you. Did you get the chance to make a point in that posting of yours.
By the way, what are you doing in Germany? Your "brilliance" should suffice to lead you home to Ghana to correct ... read full comment
Wow, you really have a problem, don't you. Did you get the chance to make a point in that posting of yours.
By the way, what are you doing in Germany? Your "brilliance" should suffice to lead you home to Ghana to correct all the economic maladies facing the country. Or you do not have an ounce of grey matter under your skull? Which one is it?
Baba 9 years ago
Just write German! some of us won't understand a thing but it will be no different from the English you have written. Sorry.
Just write German! some of us won't understand a thing but it will be no different from the English you have written. Sorry.
moyo 9 years ago
President Kuffour allowed these mushroom banks in the system and they are the one undermining govt effort to stabilize the currency. Govt should review the activities of these banks to ensure they operate within banking regul ... read full comment
President Kuffour allowed these mushroom banks in the system and they are the one undermining govt effort to stabilize the currency. Govt should review the activities of these banks to ensure they operate within banking regulations
KnYc(USMC) 9 years ago
You need your brain to be check. Lack of LEADERSHIP on NDC part is the cause of it. There are too many MORONS in NDC decision making.
You need your brain to be check. Lack of LEADERSHIP on NDC part is the cause of it. There are too many MORONS in NDC decision making.
Frank Agyena-Karikari 9 years ago
Have you considered the level of corruption, mismanagement and irresponsibility going on now? How much has this government borrowed and how much was paid to serve those debts. Mahama has put many squared pegs in round holes. ... read full comment
Have you considered the level of corruption, mismanagement and irresponsibility going on now? How much has this government borrowed and how much was paid to serve those debts. Mahama has put many squared pegs in round holes. The praise singers and those whose bread are well buttered by the government and some political ignoramus and sycophants will always support the government. I believe that it is the Government in Power that must mostly be held by the balls to do the right thing.
Frank Dodam 9 years ago
Fellow country the world economy woke up to the challenges that came to be known as economic melt down , recession etc the world did not go around blaming leaders .
When faced with a difficult situation one needs to step ba ... read full comment
Fellow country the world economy woke up to the challenges that came to be known as economic melt down , recession etc the world did not go around blaming leaders .
When faced with a difficult situation one needs to step back and and think creatively.
The Ghana cedi will never be the weakest currency on earth no matter how some Ghanaian aspire for Ghana to achieve this mark .
It is a shame that the opposition forces want to see the nation go down and down so that they can achieve what they want .
WAKE UP AND THINK
Tibaa 9 years ago
Trust me, if Mahama is not careful, psychological factors structured around our weakening currency will set it to lead Ghana into a collapsed economy.
When the basics are wrong, self-reinforcing tendencies will assume logi ... read full comment
Trust me, if Mahama is not careful, psychological factors structured around our weakening currency will set it to lead Ghana into a collapsed economy.
When the basics are wrong, self-reinforcing tendencies will assume logic of its own to set our money into oblivion.
I am not surprised since we have an antiquated accountant, and a retrenched USA bank teller leading our economic and financial management
I hereby renounce my citizenship.
Tibaa 9 years ago
The PRESS in GHANA must be careful in their reportage on Ghana's currency. If they continue to portray a picture of irreversible collapse, the world will act in that direction and hasten the eventual currency meltdown.
The PRESS in GHANA must be careful in their reportage on Ghana's currency. If they continue to portray a picture of irreversible collapse, the world will act in that direction and hasten the eventual currency meltdown.
BALLOT PAPER 9 years ago
And instead of the Mahama NDC gov't putting in place measures to boost confidence in the economy and the currency to prevent capital flight, they are rather using "macho measures" to keep FX in the country. What a tragic joke ... read full comment
And instead of the Mahama NDC gov't putting in place measures to boost confidence in the economy and the currency to prevent capital flight, they are rather using "macho measures" to keep FX in the country. What a tragic joke of economic management. They should step down and spare Ghanaians this cluelessness.
EZEKIEL 9 years ago
Those of us who have NO REAL understanding of Economics should just KEEP their mouths SHUT and at LEAST listen to those who have an understanding of it !!!
Mahama ALONE CANNOT "raise" the VALUE of thre CEDI!!
Those of us who have NO REAL understanding of Economics should just KEEP their mouths SHUT and at LEAST listen to those who have an understanding of it !!!
Mahama ALONE CANNOT "raise" the VALUE of thre CEDI!!
Tibaa 9 years ago
"Raising" the value of the cedi is not a physical activity that demands all hands on deck: it is through good policies and strategic financial management to which the bucks stop with the President.
"Raising" the value of the cedi is not a physical activity that demands all hands on deck: it is through good policies and strategic financial management to which the bucks stop with the President.
yaw 9 years ago
that's true, if 200 euro is 10 million old Ghana cedis, it's a shame at large, i support NDC and full kotoko man but it's time they let the seat to another party so the nation could move forward and if the nation goes on in ... read full comment
that's true, if 200 euro is 10 million old Ghana cedis, it's a shame at large, i support NDC and full kotoko man but it's time they let the seat to another party so the nation could move forward and if the nation goes on in good shape, it's for our own good.
Kwadwo Dwumor 9 years ago
Opposition to NDC had tried energy,the "Dumsor" is gone, they have tried Water, and water is back,they've tried strike/demonstrations,Mahama is MAHAMA. now the CEDI - GHANAIANS !!! THE cedi will rise soon,from Europe we are ... read full comment
Opposition to NDC had tried energy,the "Dumsor" is gone, they have tried Water, and water is back,they've tried strike/demonstrations,Mahama is MAHAMA. now the CEDI - GHANAIANS !!! THE cedi will rise soon,from Europe we are watching you. Onyame bekyere !!!!!!!
G. K. Berko 9 years ago
We should not overlook the possibility of a unified concerted effort to drag our Currency down, and with the NDC Administration. I know this may sound idiotic to many who are conspiracy averse.
But despite the fact the ... read full comment
We should not overlook the possibility of a unified concerted effort to drag our Currency down, and with the NDC Administration. I know this may sound idiotic to many who are conspiracy averse.
But despite the fact the Mahama Administration has not done much to lift the Economy out of its mess, and offer the Cedi the chance to pick up weight, a certain set of indications on the periphery strongly suggest a determined persistence to keep the Cedi's downward trend.
If it is not Political, it sure could be a financial collaboration to tank our Economy. We should ask how come Bloomberg is suddenly very interested in publishing the value of our Cedi and its trajectory?
The other day, it was the Forbes Fisher Reporter mutilating our investment environment and more. I have still not found any exhaustive analysis that explains the stagnation of our Economy in any of these specialty reportage, or recommended measures to pull us out from the mess. But folks should wait and see when and how that may come to pass in the foreseable future.
I know our Economy itself is of little value to the overall game-plan of Bloomberg, Forbes and their other partners. But these have specific reasons to focus on Ghana in recent times. We cannot claim any significant wave of Western Investments into the Country to deserve such an attention from these financial Media. However, there could be a reason for their heightened interest since a few years back.
So, let every concerned Ghanaian not only keep pressure on Mahama's underperforming Administration but other also keep one eye open, even if sleeping to identify the possible collaboration of these financial houses to drag the Cedi and our Economy down so fast.
Long Live Ghana!!!
Gye Nyame 9 years ago
My friend we are doing it to ourselves, no conspiracy theory here. You sound like the bad workman who complains about his tools.
My friend we are doing it to ourselves, no conspiracy theory here. You sound like the bad workman who complains about his tools.
slow 9 years ago
ghenyame don't even mind that low thinker. he is a typical African who will always blame his woes on external influence when in fact he has never had leaders but rulers who simply are imbeciles.Africans are always blaming e ... read full comment
ghenyame don't even mind that low thinker. he is a typical African who will always blame his woes on external influence when in fact he has never had leaders but rulers who simply are imbeciles.Africans are always blaming external forces when we are to a large extent the cause of our problems.we are not the only people who were colonised. the Malaysians ,the Indians and many more were also colonised but they rose above that to become what they are today. the worst atrocities ever committed against any human race in the last century was against the Jews in the second world war by European Nazis.yet the Jews saw this as a wake up call to rise up and become one of the most powerful countries in the world. we should learn from such countries rather than blaming others
DusTY-FooT-pHiloSophER 9 years ago
WORLD'S WORST CURRENCY DROP AS GHANA PULLS BACK FROM IMF AID
By Moses Mozart Dzawu and Robert Brand Jul 30, 2014 4:03 PM GMT+0200
Ghana’s cedi, the world’s worst-performing currency this year, weakened as the gover ... read full comment
WORLD'S WORST CURRENCY DROP AS GHANA PULLS BACK FROM IMF AID
By Moses Mozart Dzawu and Robert Brand Jul 30, 2014 4:03 PM GMT+0200
Ghana’s cedi, the world’s worst-performing currency this year, weakened as the government ruled out an International Monetary Fund bailout, stoking concern it will miss targets to narrow a budget deficit.
The currency retreated for the first time in five days against the dollar, dropping as much as 6.4 percent, after Deputy Finance Minister Mona Quartey said the government of the world’s second-biggest cocoa producer plans to sell a third Eurobond next month rather than take IMF aid. Returns on Ghana’s dollar debt are the lowest in Africa this year, according to Bloomberg indexes.
Some investors “don’t have the full confidence in the government’s home-grown policy because steps that have already been implemented have not yielded expected results,” Elvis Darku, head of fixed-income trading at Access Bank Ghana Ltd., said by phone today. “Those traders disappointed that the government was no longer looking at an IMF bailout probably started bidding the cedi lower.”
Finance Minister Seth Terkper opened the door to IMF support earlier this year as slumping earnings from gold, cocoa and oil, the country’s biggest exports, curbed revenue, according to the Bank of Ghana. Terkper revised the 2014 fiscal deficit target to 8.8 percent of gross domestic product from 8.5 percent and increased spending by 3.2 billion cedis ($873 million) on July 16, while saying power cuts, inflation and the weak cedi are curbing growth. The gap was 10.1 percent in 2013.
“We’re not considering an IMF loan at this time,” Quartey said by phone yesterday. Plans to sell $1.5 billion in Eurobonds are “part of a home-grown strategy to stabilize the cedi,” she said.
Inflation Threat
The cedi weakened 6.2 percent to 3.6651 per dollar as of 1:47 p.m. in Accra, the capital, extending losses this year to 33 percent. Yields on the nation’s Eurobonds due August 2023 rose two basis points, or 0.02 percentage point, to 8.23 percent. Ghanaian dollar debt returned 5.3 percent this year, less than the 9.3 percent emerging-market average, according to Bloomberg indexes. Ghana will start marketing its next issuance by the end of August, Quartey said.
“If they could get IMF support that would be a much more sustainable solution” in helping to stem a drop in the cedi, Melissa Verreynne, an analyst at NKC Independent Economists in Paarl, South Africa, said by phone today. The proceeds from a Eurobond sale would provide only temporary support to the currency, she said.
Traders who sold the cedi today “would have preferred an IMF financing since that was going to come with fiscal discipline,” Darku said. In 2009, when Ghana entered a three-year IMF program that included about $600 million of loans, the Washington-based lender included targets to reform taxes and revenue collection and reduce subsidies on power and gasoline.
Delayed Goals
In July 2012, the IMF said Ghana missed targets on the budget deficit and reserves and delayed meeting goals on auditing the payroll and integrating tax offices.
Companies in Ghana are battling because of the weakening currency that pushed the inflation rate to 15 percent in June, a 10th straight month of increases. Produce Buying Co., the country’s largest purchaser of cocoa from farmers, said last week it delayed plans to borrow $30 million from France’s development agency as the cedi’s slide threatened to boost repayment costs.
To contact the reporters on this story: Moses Mozart Dzawu in Accra at mdzawu@bloomberg.net; Robert Brand in Cape Town at rbrand9@bloomberg.net
Ishimoto 9 years ago
Nation reckers
Nation reckers
Sea 9 years ago
If Ghana's cedi is the weakest currency in the world, who caused it? Knocking off four zeroes from the old cedis by NPP wicked economists has caused all this. SHAME UNTO ALL NPP WICKED ECONOMIST WHO DID THIS.
If Ghana's cedi is the weakest currency in the world, who caused it? Knocking off four zeroes from the old cedis by NPP wicked economists has caused all this. SHAME UNTO ALL NPP WICKED ECONOMIST WHO DID THIS.
VIOLA 9 years ago
They knocked off 4 zeros, so add the 4 zeros and viola, it is fixed. What a joke!!!
They knocked off 4 zeros, so add the 4 zeros and viola, it is fixed. What a joke!!!
Say the TRUTH 9 years ago
LET THEM REMAING IN THEIR ECONOMIC STUPIDITY ON THE ZERO THEOREIS PROPOUNDED BY THEIR GOD FATHER JJ AND OTHE STUPID ECONOMIST/FINANCE EXPERTS THEY HAVE!!!!
NO WONDER THEY ARE IN THE DEEP SHIT AND WILL CONTINUE TO REMAIN TI ... read full comment
LET THEM REMAING IN THEIR ECONOMIC STUPIDITY ON THE ZERO THEOREIS PROPOUNDED BY THEIR GOD FATHER JJ AND OTHE STUPID ECONOMIST/FINANCE EXPERTS THEY HAVE!!!!
NO WONDER THEY ARE IN THE DEEP SHIT AND WILL CONTINUE TO REMAIN TILL THEY ARE BOOTED OUT EITHER BEFORE THE 4 YR RULE OF IF GOD BE GRACIOUS TO THEM THAN TO PUNISH ALL GHANAIANS TILL 2016!!!
frenest 9 years ago
So how were you going to manage the situation where you had carry a bag load of notes to buy simple items like bread and other provisions from the market?
So how were you going to manage the situation where you had carry a bag load of notes to buy simple items like bread and other provisions from the market?
Tibaa 9 years ago
“We are not considering an IMF loan at this time,” Deputy Finance Minister Mona Quartey said by phone yesterday.
Will this bank-teller turned minister shut-up for a moment? What do you know about development economics, ... read full comment
“We are not considering an IMF loan at this time,” Deputy Finance Minister Mona Quartey said by phone yesterday.
Will this bank-teller turned minister shut-up for a moment? What do you know about development economics, or better still, political-economy of development?
You are not considering it now, BUT you will go for it later with more STRINGENT CONDITIONALITIES.
What a fool!!!!
Ebibiman 9 years ago
Funny people
Funny people
foolish man 9 years ago
foolish man mahama
foolish man mahama
Whatever 9 years ago
Those NPP unschooled traders who won't produce but prefer to travel to China and Dubai week in and week out buy and import all manner of things into the country should cut down on the imports
Those NPP unschooled traders who won't produce but prefer to travel to China and Dubai week in and week out buy and import all manner of things into the country should cut down on the imports
SARPONG 9 years ago
Idiot, what is the government there for? If what they import is not wanted, the government can ban them as it did on used refrigerators.
Idiot, what is the government there for? If what they import is not wanted, the government can ban them as it did on used refrigerators.
Joe Pasaasa 9 years ago
Mahama is an epic failure. He must go to save Ghana from imploding.
Anyone who votes for Mahama and NDC is a wicked enemy of Ghana's progress.
Mahama and NDC are urinating on the faces of Ghanaians telling them it is ra ... read full comment
Mahama is an epic failure. He must go to save Ghana from imploding.
Anyone who votes for Mahama and NDC is a wicked enemy of Ghana's progress.
Mahama and NDC are urinating on the faces of Ghanaians telling them it is raining. They are disgusting.
kaketonti 9 years ago
What did you achieve by insulting the President,Mr Mahama?Politics is the competition of ideals.Just read the orderly comment of others.Be wise and responsible.
What did you achieve by insulting the President,Mr Mahama?Politics is the competition of ideals.Just read the orderly comment of others.Be wise and responsible.
TEE 9 years ago
INCOMPETENT LEADERLESS LOOT AND SHARE PERIOD
INCOMPETENT LEADERLESS LOOT AND SHARE PERIOD
TEE 9 years ago
CLUELESS USELESS VISIONLESS. MAHAMA PERIOD
CLUELESS USELESS VISIONLESS. MAHAMA PERIOD
Kanawu 9 years ago
Mahama & Co can you lot see that you have failed Ghanaians.
Mahama & Co can you lot see that you have failed Ghanaians.
Brobbsnet-U.S.A 9 years ago
You cannot mention the word FAILURE and MAHAMA in the same sentence.
You cannot mention the word FAILURE and MAHAMA in the same sentence.
BOY KOFI 9 years ago
This is exactly what happened to Nigeria when they had the oil boom in the 70s.Everything went fine for a while,then all of a sudden everything came to a halt followed by "Ghana must go".My question is that,why is the CFA alw ... read full comment
This is exactly what happened to Nigeria when they had the oil boom in the 70s.Everything went fine for a while,then all of a sudden everything came to a halt followed by "Ghana must go".My question is that,why is the CFA always stable and strong?Thank you.
Kwame 9 years ago
unbelievable, incompetent leaders, currency devalued (3% in months), to such an extent and the ruling party does nothing to remedy it? lol! Ghana is in a depression! keep fighting each other whiles the country economy burns!
unbelievable, incompetent leaders, currency devalued (3% in months), to such an extent and the ruling party does nothing to remedy it? lol! Ghana is in a depression! keep fighting each other whiles the country economy burns!
Brobbsnet-U.S.A 9 years ago
Anytime the president opens his mouth ,the country SINKS in economic tsunami and the more the president and NDC keeps
talking. it's like an Addiction.
Anytime the president opens his mouth ,the country SINKS in economic tsunami and the more the president and NDC keeps
talking. it's like an Addiction.
SABA 9 years ago
I'm not one of the NPP/NDC fanatics, I just want objective answers to this question: Has the NDC moved Ghana further forward from where Kuffour left it? If yes, what areas have they improved. If no what areas have they destro ... read full comment
I'm not one of the NPP/NDC fanatics, I just want objective answers to this question: Has the NDC moved Ghana further forward from where Kuffour left it? If yes, what areas have they improved. If no what areas have they destroyed?
Joe 9 years ago
I hope NDC is accepting this because they seem to deny the economy is in shambles. Let them listen to Bawumia who keeps advising them but they do not accept it.
I hope NDC is accepting this because they seem to deny the economy is in shambles. Let them listen to Bawumia who keeps advising them but they do not accept it.
ADONGO 9 years ago
STUPID COUNTRY,STUPID ECONOMY ,STUPID LEADERS!!!
STUPID COUNTRY,STUPID ECONOMY ,STUPID LEADERS!!!
Kwamr Oeusu London 9 years ago
Only fools don't realise the cedi is sinking. Idiots like Mahama anf his cabinet.
Only fools don't realise the cedi is sinking. Idiots like Mahama anf his cabinet.
Jean claude 9 years ago
hahahahahaahahah.........the most useless country in the world is ghana. For you to have all the resources and still be poor shows how backward people you are. always want to compete with the whiteman but you dont have nothin ... read full comment
hahahahahaahahah.........the most useless country in the world is ghana. For you to have all the resources and still be poor shows how backward people you are. always want to compete with the whiteman but you dont have nothing to boast of
BOY KOFI 9 years ago
Only a fool will believe this stupid story.Thank you.
Only a fool will believe this stupid story.Thank you.
abba 9 years ago
THE SPIRIT OF JUNE 4TH 1979 REVOLUTION IS TOTALLY DEAD BECAUSE MAHAMA LED NDC HAS LOOTED THE COFFERS OF THE NATION. NOW IT IS OBVIOUS THAT THE BLOOD OF GEN.I.K.ACHAMPONG AND THE OTHERS WHO WERE EXECUTED ARE INNOCENT.
THE SPIRIT OF JUNE 4TH 1979 REVOLUTION IS TOTALLY DEAD BECAUSE MAHAMA LED NDC HAS LOOTED THE COFFERS OF THE NATION. NOW IT IS OBVIOUS THAT THE BLOOD OF GEN.I.K.ACHAMPONG AND THE OTHERS WHO WERE EXECUTED ARE INNOCENT.
abba 9 years ago
EVEN THE OIL DESCOVERY HAS BEEN THE PERSONAL PROPERTY OF NDC CRIMINALS AND THAT HAS CONTRIBUTED TO THE AILING ECONOMY.
EVEN THE OIL DESCOVERY HAS BEEN THE PERSONAL PROPERTY OF NDC CRIMINALS AND THAT HAS CONTRIBUTED TO THE AILING ECONOMY.
STAFFORD 9 years ago
Let us reconsider a free port, because most of these imported goods are resold to our neighbouring countries to strengthen the cedi.
Let us reconsider a free port, because most of these imported goods are resold to our neighbouring countries to strengthen the cedi.
STAFFORD 9 years ago
Let us boost both local and private businesses, attract foreign investors by smoothing out land acquisition and disputes.
Let us boost both local and private businesses, attract foreign investors by smoothing out land acquisition and disputes.
kofucius.wordpress.com 9 years ago
Singapore and Dubai do similar things, it would make Tema more competitive vs Abidjan.
Good idea put forth, Tema is more advanced of a port than most in Africa, but its high prices make it prohibitive for those interested ... read full comment
Singapore and Dubai do similar things, it would make Tema more competitive vs Abidjan.
Good idea put forth, Tema is more advanced of a port than most in Africa, but its high prices make it prohibitive for those interested in importing with the primary aim of distribution throughout the West African subregion.
Seriously Tema port in West Africa is one of the few one eyed men in the valley of the blind we need to completely capitalize on this advantage.
The Ghanaian government should really consider a unit focused solely on issues of regional competitiveness.
ANKOBEA-HENE 9 years ago
So why is China not crying over weak Yuan? they even wanted to dilute it to go down had America not been watching them. Let's turn a misfortune into a blessing.
So why is China not crying over weak Yuan? they even wanted to dilute it to go down had America not been watching them. Let's turn a misfortune into a blessing.
STONER KOBYLYNTON 9 years ago
Ankobea-Hene, not only Chinese had wanted to devalue their currency, but with their established industrial base which many multi-million dollar companies are operating there with their cheap labour, hence America raised conce ... read full comment
Ankobea-Hene, not only Chinese had wanted to devalue their currency, but with their established industrial base which many multi-million dollar companies are operating there with their cheap labour, hence America raised concern about their trade malpractices.
If Ghana is to be an industrialised nation or a country with huge export base in agriculture produce, the current state of the currency would have been blessing for both importers and exporters. In situation like this, the Cedi would appreciate in value eventually. The present situation require fiscal discipline where government have to priortize its expenditure, cut down taxes to enable entreprenuers expand their businesses and also the poor folks able to spend the little they have to boost the economic activities than the government colleting the money from them in taxes and servicing irrelevant commitments and projects. E&OE.
SAARA-MENSAH 9 years ago
We have great minds.
We have great minds.
K.A 9 years ago
Bawumia predicted this less than 24hrs ago.
Bawumia predicted this less than 24hrs ago.
ANKOBEA-HENE 9 years ago
what did he do in the previous gov't? they pegged the cedi to US dollar. Ghana and US are not equals in terms of economics. So Bawumia did more harm than good. he gave Ghana the wrong drug that's why he is sure we are doomed.
what did he do in the previous gov't? they pegged the cedi to US dollar. Ghana and US are not equals in terms of economics. So Bawumia did more harm than good. he gave Ghana the wrong drug that's why he is sure we are doomed.
Enoch. O 9 years ago
This is not a MAHAMA made disaster. Why on earth did Kufuor value our currency as 1to1 against the American Dollar. It does not make sense. Apart from Cocoa whose price we do not control, what else do we have, we have sold aw ... read full comment
This is not a MAHAMA made disaster. Why on earth did Kufuor value our currency as 1to1 against the American Dollar. It does not make sense. Apart from Cocoa whose price we do not control, what else do we have, we have sold away our GOLD Mines, we import even bread, and Akufo Addo and Bawumia were both in the government that made this decision, and he thinks when he takes over, he can improve the situation of the Cedi? Give me a break. These politicians think the ordinary Ghanaian is stupid. I am not a politician, I am not an economist, but the best way out is to devalue the Cedi, and set it to its real value. Long live Ghana.
FIFI GBEVE 9 years ago
NPP owned banks have ganged up with people like KESSBEN to cause the Cedi to depreciate and make the country ungovernable. Heavenly Father will expose all the wicked plots of NPP and bring the SATANIC LEAGUE to shame.
NPP owned banks have ganged up with people like KESSBEN to cause the Cedi to depreciate and make the country ungovernable. Heavenly Father will expose all the wicked plots of NPP and bring the SATANIC LEAGUE to shame.
STAFFORD 9 years ago
What is needed now are ideas and solutions from you and me, abuses and criticisms get us no answers.
What is needed now are ideas and solutions from you and me, abuses and criticisms get us no answers.
FOFFIE 9 years ago
BLESS UP
BLESS UP
No fear 9 years ago
Mahama & Terkper: IMF bailout is in your future. TUC: retrenchment is in your future.
Cedi: NDC school boys will not save you, 5 cedis to 1 dollar is in around the corner.
Mahama & Terkper: IMF bailout is in your future. TUC: retrenchment is in your future.
Cedi: NDC school boys will not save you, 5 cedis to 1 dollar is in around the corner.
nkem 9 years ago
Hhhmmmm.....i advise ur president to come discuss dis una economic issue with nigerian president b4 hunger blow una head ....no need of shame..rollings nd john kufor asked 9ja for help.
Hhhmmmm.....i advise ur president to come discuss dis una economic issue with nigerian president b4 hunger blow una head ....no need of shame..rollings nd john kufor asked 9ja for help.
nana bronya 9 years ago
MAHAMA IS A DOG EATING IDIOT
MAHAMA IS A DOG EATING IDIOT
Peter Pan 9 years ago
Don't believe story about the Cedi being the weakest currency in the world. The enemies of Ghana are using psychological warfare to weaken our resolve in order to demoralize. Turn perceived weakness into srength.
Don't believe story about the Cedi being the weakest currency in the world. The enemies of Ghana are using psychological warfare to weaken our resolve in order to demoralize. Turn perceived weakness into srength.
francis sam 9 years ago
simple put increase your exports and
tariffs on imports why should Ghana
import tomatoes and onions STOP TALKING ABOUT CORRUPTION AND START
PROSECUTING PEOPLE
take a lesson from RWANDA
simple put increase your exports and
tariffs on imports why should Ghana
import tomatoes and onions STOP TALKING ABOUT CORRUPTION AND START
PROSECUTING PEOPLE
take a lesson from RWANDA
Mr Tee 9 years ago
President Mahama has done nothing wrong to this economy why am i saying that,the change of currency by the previous government
President Mahama has done nothing wrong to this economy why am i saying that,the change of currency by the previous government
Shaz Aku 9 years ago
I agreeMr Tee, the previous Government have alot to answer for. Kuffour managed to get some of our creditors to wipe some of our debts then they overspent with no much to show for it. Where is the evidence that the Cedi is th ... read full comment
I agreeMr Tee, the previous Government have alot to answer for. Kuffour managed to get some of our creditors to wipe some of our debts then they overspent with no much to show for it. Where is the evidence that the Cedi is the weakest currency I haven't seen any. There are other currencies struggling
Opinenhof 9 years ago
I can prove you wrong that the cedi is the weakest currency in the world. Even in some of the European contries like Poland,Latvia and others .why ? The. System was rotten for long now that is smillimg. Dead things smell ... read full comment
I can prove you wrong that the cedi is the weakest currency in the world. Even in some of the European contries like Poland,Latvia and others .why ? The. System was rotten for long now that is smillimg. Dead things smell when is rotten .so don't blame Mahama. The system was dead before he took over . Better let of help to bluid our nation than to to shouting. Let's do the right thing. From the grass root to the top. God bless Our home land Ghana.
allexisse 9 years ago
Pls Prez. Mahama are u watching all this? Pls dont look like Eyadema from togo who dont listen to anything
Pls Prez. Mahama are u watching all this? Pls dont look like Eyadema from togo who dont listen to anything
Isaac 9 years ago
Does this Gov't concern about Ghanaians? Please Mr Prez, why?
Does this Gov't concern about Ghanaians? Please Mr Prez, why?
NDC and Mahama must go
What a shame. He must resign.
That fact that your cedi falls doesn't mean is good or bad. What determines whether is good or bad is your ability or inability to take advantage of it. If Ghana were to increase the volume of exports it will be good for if t ...
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@Whatever: Clueless just like your paymasters. No wonder the country is in a nose dive. Baseless comment.
Headline news like this “Ghana’s cedi is world’s weakest currency” amount to crime of betrayal
Yes, a crime of betrayal because betrayal has a cruel sting. When you are betrayed, it is like your trust ring has been ...
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Ghana=1 medal Naija=30 medals and more to follow.
What kind of wicked and cruel topic?
Some of you are full of absurd and preposterous malice. Do you people want to say Ghana's Cedi is worst off than Zibabweans' currency, Sierra Leone's Leones, Guinea's Celi, just to mentio ...
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Your earlier point is more valid than the later lie that the cedi is doing better now than it did under Kufour.If you want to be taken seriously stick to facts and stay away from the gutters? You are absolutely right to point ...
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We're NOT under Kufour's gov't my friend. Stop comparing in this manner: Ghanaians moved on for the better from where Kufour left, so if NDC cannot move the country further from where Kufour left it, then the gov't is SIMPLY ...
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If we maintain what? Quo? You can't even speak or write English and you don't seem to understand Economics either. IT'S STATUS QUO, meaning doing the same thing over and over.
The cedi depreciation is not good for Ghana a ...
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When one is using a word within clear INFORMAL context, you don't need to pronounce the word in full so long as the person reading or listening will understand its coded meaning. That is what INFORMAL language entails. Commen ...
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In economics we have something call "in the long run" when all resources are variable, that's when you can take advantage in currency fluctuations but not in the shot run when all your circumstances are fixed.
Just the few comments I read proved that Ghana has too many economists with divergent views and interpretations of economic theories. That is probably the reason we can't get the ecominy, sorry economy right.
Blame our opposition parties for using the Cedi depreciation as their campaign messages.
WHAT THEY SHOULD THAT THE CEDI MAY STABILIZED AND THEIR CAMPAIGN MESSAGES WILL BE DEAD.
People like you are those who voted for NPP when you were drunk or bribed. The Cedi was a stabilized currency at 1.56 cedis to a dollar under Kuffuor. In fact the rate stood firm for the last two years of Kuffuor regime.
Re- ...
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If the cedi stabilized under Kufour, why should that be bad for people not to vote for NPP?
The reasons for the cedi depreciation is numerous and that is why it is going to be difficult to get this problem under control.
First, the government has increased the volume of the cedi circulation by printing more than ...
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CORRECTION
The reasons for the cedi depreciation is numerous and that are why it is going to be difficult to get this problem under control.
First, the government has increased the volume of the cedi circulation by pr ...
read full comment
FOR HEAVEN'S SAKE, FOR CHRIST SAKE MAHAMA NEEDS TO LEAVE THE PRESIDENCY. WHY SHOULD THIS INCOMPETENT, PATHETIC, HALUCINATING, CLUELESS MAN WHO APPOINTED IGNORANT, UNKNOWLEDGEABLE, ARROGANT SCHOOL BABIES WITH SHARP TEETH MAKE ...
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How was the cedi performing under Kufour? it was so bad that re-denomination had to be done to hide some of the zeroes
Don't go there.
Your comment shows how illiterate you are. No sense trying to educate a dog how to accept soap as food, it will never happen.
Bravo!!!
I AM SORRY TO SAY GHANA'S CURRENCY IS NOT THE WEAKEST IN THE WORLD? On what basis was such a ridiculous and presumptuous conclusion reach?
Reached not reach? Based on the percentage of depreciation?
It is pathetic the cluelessness shown by this crop of leaders headed by Mahama. You have clueless leaders the country suffers. We are heading for the cliff and no one cares or has the guts to do what is right. What a shame!
Ghana's currency is the weakest, Mahama is clueless,is all in the eyes of npp suppoters, the party of sabotuers trying to bring the country down,all just because they failures
Making the wrong assumption that I support NPP, wait for the next administration to come and see if I let them off the hook. I support Ghana and that is it. Just saying the truth, that is all.
Pls leave President Mahama alone and go and look for job.
Where is that stupid akpeteshie trokosi Corney?
Who will buy an Eurobond from a bankcrupt country with a worthless currency?
Is that why Mahama wants to run to China with our begging cup for shylock loans? The Chinese are worse off when it comes to being fist-handed with with their money and have higher interest rates and conditions. Terkper admitt ...
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Bank of Ghana should keep an eye on the operations of those mushroom banks that sprung up when NPP came to power. They are syphoning all kinds of currencies they can lay their hands on in order to put blame on NDC.
See a Fool, will always be a Fool, he can Never learn Or change cause is inside Ur useless Patents dna and u were Born with it. U assholes NDC will Even vote for a DOG Or CAT be President. I know u nasty NDC are people are NO ...
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Wow, you really have a problem, don't you. Did you get the chance to make a point in that posting of yours.
By the way, what are you doing in Germany? Your "brilliance" should suffice to lead you home to Ghana to correct ...
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Just write German! some of us won't understand a thing but it will be no different from the English you have written. Sorry.
President Kuffour allowed these mushroom banks in the system and they are the one undermining govt effort to stabilize the currency. Govt should review the activities of these banks to ensure they operate within banking regul ...
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You need your brain to be check. Lack of LEADERSHIP on NDC part is the cause of it. There are too many MORONS in NDC decision making.
Have you considered the level of corruption, mismanagement and irresponsibility going on now? How much has this government borrowed and how much was paid to serve those debts. Mahama has put many squared pegs in round holes. ...
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Fellow country the world economy woke up to the challenges that came to be known as economic melt down , recession etc the world did not go around blaming leaders .
When faced with a difficult situation one needs to step ba ...
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Trust me, if Mahama is not careful, psychological factors structured around our weakening currency will set it to lead Ghana into a collapsed economy.
When the basics are wrong, self-reinforcing tendencies will assume logi ...
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The PRESS in GHANA must be careful in their reportage on Ghana's currency. If they continue to portray a picture of irreversible collapse, the world will act in that direction and hasten the eventual currency meltdown.
And instead of the Mahama NDC gov't putting in place measures to boost confidence in the economy and the currency to prevent capital flight, they are rather using "macho measures" to keep FX in the country. What a tragic joke ...
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Those of us who have NO REAL understanding of Economics should just KEEP their mouths SHUT and at LEAST listen to those who have an understanding of it !!!
Mahama ALONE CANNOT "raise" the VALUE of thre CEDI!!
"Raising" the value of the cedi is not a physical activity that demands all hands on deck: it is through good policies and strategic financial management to which the bucks stop with the President.
that's true, if 200 euro is 10 million old Ghana cedis, it's a shame at large, i support NDC and full kotoko man but it's time they let the seat to another party so the nation could move forward and if the nation goes on in ...
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Opposition to NDC had tried energy,the "Dumsor" is gone, they have tried Water, and water is back,they've tried strike/demonstrations,Mahama is MAHAMA. now the CEDI - GHANAIANS !!! THE cedi will rise soon,from Europe we are ...
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We should not overlook the possibility of a unified concerted effort to drag our Currency down, and with the NDC Administration. I know this may sound idiotic to many who are conspiracy averse.
But despite the fact the ...
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My friend we are doing it to ourselves, no conspiracy theory here. You sound like the bad workman who complains about his tools.
ghenyame don't even mind that low thinker. he is a typical African who will always blame his woes on external influence when in fact he has never had leaders but rulers who simply are imbeciles.Africans are always blaming e ...
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WORLD'S WORST CURRENCY DROP AS GHANA PULLS BACK FROM IMF AID
By Moses Mozart Dzawu and Robert Brand Jul 30, 2014 4:03 PM GMT+0200
Ghana’s cedi, the world’s worst-performing currency this year, weakened as the gover ...
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Nation reckers
If Ghana's cedi is the weakest currency in the world, who caused it? Knocking off four zeroes from the old cedis by NPP wicked economists has caused all this. SHAME UNTO ALL NPP WICKED ECONOMIST WHO DID THIS.
They knocked off 4 zeros, so add the 4 zeros and viola, it is fixed. What a joke!!!
LET THEM REMAING IN THEIR ECONOMIC STUPIDITY ON THE ZERO THEOREIS PROPOUNDED BY THEIR GOD FATHER JJ AND OTHE STUPID ECONOMIST/FINANCE EXPERTS THEY HAVE!!!!
NO WONDER THEY ARE IN THE DEEP SHIT AND WILL CONTINUE TO REMAIN TI ...
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So how were you going to manage the situation where you had carry a bag load of notes to buy simple items like bread and other provisions from the market?
“We are not considering an IMF loan at this time,” Deputy Finance Minister Mona Quartey said by phone yesterday.
Will this bank-teller turned minister shut-up for a moment? What do you know about development economics, ...
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Funny people
foolish man mahama
Those NPP unschooled traders who won't produce but prefer to travel to China and Dubai week in and week out buy and import all manner of things into the country should cut down on the imports
Idiot, what is the government there for? If what they import is not wanted, the government can ban them as it did on used refrigerators.
Mahama is an epic failure. He must go to save Ghana from imploding.
Anyone who votes for Mahama and NDC is a wicked enemy of Ghana's progress.
Mahama and NDC are urinating on the faces of Ghanaians telling them it is ra ...
read full comment
What did you achieve by insulting the President,Mr Mahama?Politics is the competition of ideals.Just read the orderly comment of others.Be wise and responsible.
INCOMPETENT LEADERLESS LOOT AND SHARE PERIOD
CLUELESS USELESS VISIONLESS. MAHAMA PERIOD
Mahama & Co can you lot see that you have failed Ghanaians.
You cannot mention the word FAILURE and MAHAMA in the same sentence.
This is exactly what happened to Nigeria when they had the oil boom in the 70s.Everything went fine for a while,then all of a sudden everything came to a halt followed by "Ghana must go".My question is that,why is the CFA alw ...
read full comment
unbelievable, incompetent leaders, currency devalued (3% in months), to such an extent and the ruling party does nothing to remedy it? lol! Ghana is in a depression! keep fighting each other whiles the country economy burns!
Anytime the president opens his mouth ,the country SINKS in economic tsunami and the more the president and NDC keeps
talking. it's like an Addiction.
I'm not one of the NPP/NDC fanatics, I just want objective answers to this question: Has the NDC moved Ghana further forward from where Kuffour left it? If yes, what areas have they improved. If no what areas have they destro ...
read full comment
I hope NDC is accepting this because they seem to deny the economy is in shambles. Let them listen to Bawumia who keeps advising them but they do not accept it.
STUPID COUNTRY,STUPID ECONOMY ,STUPID LEADERS!!!
Only fools don't realise the cedi is sinking. Idiots like Mahama anf his cabinet.
hahahahahaahahah.........the most useless country in the world is ghana. For you to have all the resources and still be poor shows how backward people you are. always want to compete with the whiteman but you dont have nothin ...
read full comment
Only a fool will believe this stupid story.Thank you.
THE SPIRIT OF JUNE 4TH 1979 REVOLUTION IS TOTALLY DEAD BECAUSE MAHAMA LED NDC HAS LOOTED THE COFFERS OF THE NATION. NOW IT IS OBVIOUS THAT THE BLOOD OF GEN.I.K.ACHAMPONG AND THE OTHERS WHO WERE EXECUTED ARE INNOCENT.
EVEN THE OIL DESCOVERY HAS BEEN THE PERSONAL PROPERTY OF NDC CRIMINALS AND THAT HAS CONTRIBUTED TO THE AILING ECONOMY.
Let us reconsider a free port, because most of these imported goods are resold to our neighbouring countries to strengthen the cedi.
Let us boost both local and private businesses, attract foreign investors by smoothing out land acquisition and disputes.
Singapore and Dubai do similar things, it would make Tema more competitive vs Abidjan.
Good idea put forth, Tema is more advanced of a port than most in Africa, but its high prices make it prohibitive for those interested ...
read full comment
So why is China not crying over weak Yuan? they even wanted to dilute it to go down had America not been watching them. Let's turn a misfortune into a blessing.
Ankobea-Hene, not only Chinese had wanted to devalue their currency, but with their established industrial base which many multi-million dollar companies are operating there with their cheap labour, hence America raised conce ...
read full comment
We have great minds.
Bawumia predicted this less than 24hrs ago.
what did he do in the previous gov't? they pegged the cedi to US dollar. Ghana and US are not equals in terms of economics. So Bawumia did more harm than good. he gave Ghana the wrong drug that's why he is sure we are doomed.
This is not a MAHAMA made disaster. Why on earth did Kufuor value our currency as 1to1 against the American Dollar. It does not make sense. Apart from Cocoa whose price we do not control, what else do we have, we have sold aw ...
read full comment
NPP owned banks have ganged up with people like KESSBEN to cause the Cedi to depreciate and make the country ungovernable. Heavenly Father will expose all the wicked plots of NPP and bring the SATANIC LEAGUE to shame.
What is needed now are ideas and solutions from you and me, abuses and criticisms get us no answers.
BLESS UP
Mahama & Terkper: IMF bailout is in your future. TUC: retrenchment is in your future.
Cedi: NDC school boys will not save you, 5 cedis to 1 dollar is in around the corner.
Hhhmmmm.....i advise ur president to come discuss dis una economic issue with nigerian president b4 hunger blow una head ....no need of shame..rollings nd john kufor asked 9ja for help.
MAHAMA IS A DOG EATING IDIOT
Don't believe story about the Cedi being the weakest currency in the world. The enemies of Ghana are using psychological warfare to weaken our resolve in order to demoralize. Turn perceived weakness into srength.
simple put increase your exports and
tariffs on imports why should Ghana
import tomatoes and onions STOP TALKING ABOUT CORRUPTION AND START
PROSECUTING PEOPLE
take a lesson from RWANDA
President Mahama has done nothing wrong to this economy why am i saying that,the change of currency by the previous government
I agreeMr Tee, the previous Government have alot to answer for. Kuffour managed to get some of our creditors to wipe some of our debts then they overspent with no much to show for it. Where is the evidence that the Cedi is th ...
read full comment
I can prove you wrong that the cedi is the weakest currency in the world. Even in some of the European contries like Poland,Latvia and others .why ? The. System was rotten for long now that is smillimg. Dead things smell ...
read full comment
Pls Prez. Mahama are u watching all this? Pls dont look like Eyadema from togo who dont listen to anything
Does this Gov't concern about Ghanaians? Please Mr Prez, why?
fuck the government!